XRP Lawsuit ‘Gross Overreach' of SEC Amid Failure To Provide Regulatory Clarity: Ripple CEO Brad Garlinghouse

Ripple chief executive Brad Garlinghouse says his company is “confident” moving toward the possible conclusion of its court battle against the U.S. Securities and Exchange Commission (SEC). Garlinghouse says in a new interview on CNBC that his team thinks the law is clear. “You have to remember that 99.

Timeline of Xrp

In the ongoing legal case between the SEC and Ripple Labs, the commission declared XRP as a security. However, there seem to be some twists through the unfolding events in the lawsuit.

Ripple price analysis reveals that the digital asset has registered an increase of 1.92% over the past 24-hours. The cryptocurrency is trading at $0.478 after opening the day at $0.4682.

A popular cryptocurrency analyst has predicted that the price of $XRP could soon explode upwards, at a time in which both Ripple and the U.S. Securities and Exchange Commission (SEC) are looking for a ruling in their long-running legal battle through a so-called summary judgment.

Tomorrow, September 27th, Ripple partner Bitso will roll out its new payment solution in Argentina. The product will enable users in the Latin American country to access the first QR code payment system in the region powered by XRP and other cryptocurrencies.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. XRP's southbound journey finally retired as the buyers upheld the $0.3 baseline support while orchestrating a bull run over the last few days.

The latest Ripple price analysis shows that the cryptocurrency has taken a hit and is currently trading at $0.4675. This is after it underwent a bearish spin that saw its value depreciate from $0.5069.

The crucial legal battle between Ripple and US SEC, which is expected to provide clarity over crypto regulations has entered the Summary Judgment phase. However, the XRP community seems pretty confident over the blockchain firm's motion in the Ripple lawsuit.

XRP is at the number 6 spot in terms of market capitalization, making it one of the largest cryptocurrencies out there.  XRP (XRP/USD) has experienced an increase in trading volume by 40% in the last 24 hours and an increase in its value by 56% throughout the past week.

Recent motions filed for the Summary Judgement in the long running legal battle between US SEC and Ripple have brought relief to the XRP community. Experts are suggesting that the commission has failed to establish the XRP is a security.

The Reserve Bank of Australia on Monday released the white paper for the central bank digital currency (CBDC) pilot project (eAUD) in collaboration with the Digital Finance Cooperative Research Centre (DFCRC). Interestingly, the CBDC pilot is led by Ripple's former executive Dilip Rao.